Fund Update 31 July 2011 OC Premium Equity Fund The equity markets started the new financial year On a positive note, Village Roadshow rallied on a negative note with the S&P ASX 200 Index approximately 10% for the month after adjusting for falling 3.6% in July, its largest decline since May the $1.00 per share distribution that was returned to 2010. The OC Premium Equity Fund was